Asian Paints Q1 net profit rises 18% to Rs 672 cr; total income up 17% to Rs 5,204 cr
Asian Paints on Wednesday reported a 17.90 percent increase in consolidated net profit at Rs 672.09 crore for the first quarter ended 30 June
-
The company had reported a net profit of Rs 570.02 crore in the year-ago period
-
The decorative business segment in India registered a high double-digit volume growth and delivered strong performance across regions, Asian Paints MD and CEO KBS Anand said
-
The automotive coatings JV business was affected by the severe slowdown being witnessed in the automobile industry. Even the industrial coatings JV business was impacted by demand slowdown, Anand added
New Delhi: Asian Paints on Wednesday reported a 17.90 percent increase in consolidated net profit at Rs 672.09 crore for the first quarter ended 30 June.
The company had reported a net profit of Rs 570.02 crore in the year-ago period.
The total income for the June 2019 quarter stood at Rs 5,204.19 crore, up 16.67 percent, as against Rs 4,460.25 crore in June quarter of the previous year, Asian Paints said in a filing to the BSE.
Representational image. Image courtesy: Twitter/@asianpaints
"The decorative business segment in India registered a high double-digit volume growth and delivered strong performance across regions," Asian Paints MD and CEO KBS Anand said.
The automotive coatings JV business was affected by the severe slowdown being witnessed in the automobile industry. Even the industrial coatings JV business was impacted by demand slowdown, Anand added.
Benign raw material prices, however, supported the margins for the entire coatings business, he said.
"In the international operations, key units like Egypt and Sri Lanka continued to witness challenging business conditions impacting the overall performance," he added.
Shares of Asian Paints were trading 1.10 percent higher at Rs 1,444 apiece on the BSE.
also read
A trip down memory lane: Asian Paints’ iconic ‘Har Ghar Chup Chap Se Kehta Hai’ is back, urging people to stay at home
Asian Paints’ revival of its iconic ‘Har Ghar Chup Chap Se Kehta Hai’ campaign is apt, during these times of social distancing as our homes and our families are the biggest support we can get.
Are You Forgetting To Clean These Spaces In Your Home?
Using appropriate products, from cleaning materials, disinfectants and even bacteria- resistant paints such as Asian Paints Royale Health Shield, can go a long way to keeping your household free of worry and disease.
Asian Paints to set up Rs 1,700 cr plant in Visakhapatnam
Rs 1,700 crore manufacturing plant of Asian paints at Visakhapatnam, the Andhra Pradesh government said it has cleared the "administrative hurdles" for the project.